APPROVAL OF HOTEL CONTRACTS Sample Clauses

APPROVAL OF HOTEL CONTRACTS. With respect to the Hotel Contracts, Purchaser agrees to notify Seller within fifteen (15) days after the Effective Date as to which of the Hotel Contracts (as are otherwise transferrable) will be assigned to and assumed by Purchaser (and/or which of such Hotel Contracts, at the direction of Purchaser, will be assigned to and assumed by Operator).
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APPROVAL OF HOTEL CONTRACTS. With respect to the Hotel Contracts, Purchaser agrees to notify Seller in writing within thirty (30) days after the Effective Date as to which of the Hotel Contracts (as are otherwise transferrable) will be assigned to and assumed by Purchaser (and/or which of such Hotel Contracts, at the direction of Purchaser, will be assigned to and assumed by Operator), and which of the Hotel Contracts Purchaser requests that Seller terminate on or before the Closing Date. In the event Seller is not provided with such written notice, Purchaser shall be deemed to have elected to terminate all such contracts. Within five (5) days after receipt of Purchaser's notice, Seller shall advise Purchaser as to whether any Hotel Contracts Purchaser has requested Seller to terminate cannot be terminated or can be terminated only with payment of a fee or penalty, and: (a) with respect to those Hotel Contracts which cannot be terminated, Purchaser shall advise Seller within five (5) days of receipt of Seller's notice, that Purchaser has either agreed to assume such Hotel Contracts or has elected to terminate this Agreement and, in the event of termination, the Initial Deposit shall be immediately returned to Purchaser, and the parties hereto shall thereafter have not have any further obligations one to the other hereunder, except as to Purchaser's obligations to return to Seller due diligence materials pursuant to Section 5.3 hereof, and except as to Purchaser's indemnification liabilities set forth in Section 6.1 hereof; (b) with respect to those Hotel Contracts which can be terminated, but only with payment of a fee or penalty, Purchaser shall advise Seller, within five (5) days of receipt of Seller's notice, that Purchaser has either agreed to assume such Hotel Contracts, or to pay the termination fee or penalty, or has elected to terminate this Agreement, and, in the event of termination, the Initial Deposit shall be immediately return to Purchaser, and the parties hereto shall thereafter have not have any further obligations one to the other hereunder, except as to Purchaser's obligations to return to Seller due diligence materials pursuant to Section 5.3 hereof, and except as to Purchaser's indemnification liabilities set forth in Section 6.1 hereof. On or before the Closing Date, Seller shall terminate all Hotel Contracts related to the Hotel Contracts which Purchaser has elected to assume in the manner provided herein, and shall at the Closing deliver evidence of such termina...
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Related to APPROVAL OF HOTEL CONTRACTS

  • Governmental Consent, etc No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is required in connection with the execution, delivery and performance by the Company of this Agreement or the other agreements contemplated hereby, or the consummation by the Company of any other transactions contemplated hereby or thereby.

  • Approval of Agreement The Board of Directors of the Company has authorized the execution and delivery of this Agreement by the Company and has approved this Agreement and the transactions contemplated hereby.

  • Consents, Permits, and Waivers The Company shall have obtained any and all consents, permits and waivers necessary or appropriate for consummation of the transactions contemplated by the Agreement and the Related Agreements.

  • Compliance with Material Contracts Each Credit Party shall, and shall cause each of its Subsidiaries to, perform and observe all the material terms and provisions of each Material Contract to be performed or observed by it, maintain each such Material Contract in full force and effect, enforce each such Material Contract in accordance with its terms, take all such action to such end as may be from time to time reasonably requested by the Administrative Agent and, upon the reasonable request of the Administrative Agent, make to each other party to each such Material Contract such demands and requests for information and reports or for action as any Credit Party is entitled to make under such Material Contract.

  • Material Contracts and Transactions Other than as expressly contemplated by this Agreement, there are no material contracts, agreements, licenses, permits, arrangements, commitments, instruments, understandings or contracts, whether written or oral, express or implied, contingent, fixed or otherwise, to which Pubco is a party except as disclosed in writing to Priveco or as disclosed in the Pubco SEC Documents.

  • Construction Contracts Item A: Enter the total dollar amount of all contacts awarded on the project/ program. Item B: Enter the total dollar amount of contracts connected with this project/program that were awarded to Section 3 businesses.

  • Compliance with Laws and Material Contracts Each Borrower will comply, and cause each Subsidiary to comply, with the requirements of all applicable Laws and Material Contracts, except to the extent that failure to so comply could not reasonably be expected to (a) have a Material Adverse Effect, or (b) result in any Lien upon either (i) a material portion of the assets of any such Person in favor of any Governmental Authority, or (ii) any Collateral which is part of the Borrowing Base.

  • Required Consents No consent shall be required for any assignment except to the extent required by subsection (b)(i)(B) of this Section and, in addition: (A) the consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (x) an Event of Default has occurred and is continuing at the time of such assignment, or (y) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within ten Business Days after having received notice thereof; (B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required for assignments if such assignment is to a Person that is not a Lender with a Commitment, an Affiliate of such Lender or an Approved Fund; and (C) the consent of each LC Issuing Bank and Swingline Lender shall be required for any assignment.

  • Replacement of Personal Property No personal property included as part of the Property shall be removed from the Property unless the same is replaced with similar items of at least equal quality prior to the Closing Date.

  • Effect of non-approval of proposals Notwithstanding that under subclause (1) any proposals of the Company are approved by the Minister or determined by arbitration award, unless each and every such proposal and matter is so approved or determined by 31 October 1992 or by such extended date or period if any as the Company shall be granted pursuant to the provisions of this Agreement then the Minister may give to the Company 12 months notice of intention to determine this Agreement and unless before the expiration of the said 12 months period all the detailed proposals and matters are so approved or determined this Agreement shall cease and determine subject however to the provisions of Clause 35.

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